Lever China has unveiled six new alt protein investments it has completed in recent months, expanding the Shanghai-based firm’s portfolio to a total of 12 startups in the alt protein sphere. Investing in early-stage startups across plant-based meat and dairy, precision and biomass fermentation, as well as cultivated meat, Lever China is emulating the approach of the Chinese government, which is pursuing alt protein as a critical strategy.
Lever China has previously completed investments in rapidly growing plant-based meat companies like Herotein and Haofood, as well as expanding cultivated meat companies like Avant Meats and CellX. The six latest companies that have received early backing from Lever China include:
Blue Canopy
The Hong Kong-based fermentation protein technology company uses biomass fermentation and precision fermentation technologies to produce animal protein ingredients.
Marvelous Foods
The Shanghai-based alt dairy company produces plant-based yogurt and other alt dairy products.
iDAMA
The Guangzhou- and Hong Kong-based company focuses on plant-based ice cream and frozen desserts.
Hyplant
The Shanghai-and Jiangsu- based soy protein ingredients company claims to produce high-quality ingredients for plant-based meat and other foods.
Good Food Technologies
This Shenzhen- and Hong Kong-based plant-based pork company uses proprietary fat technology to produce products catered to Chinese culinary applications.
NewDay Farm
A Jiangsu-based cultivated meat company with unique technology that claims to significantly reduce ingredient and production costs.
China’s focus on food safety and environmental sustainability is continuing to grow, with President Xi Jinping highlighting the importance of diversifying the country’s sources of protein. China’s main economic regulator recently unveiled a five-year plan to boost the country’s bioeconomy with alt protein at its center.
“Lever China’s first batch of portfolio companies has seen excellent progress in valuation, technology development, and growth in sales,” stated Lily Chen, Program Director at Lever China. “As an organization focused on advancing the alternative protein sector, we are excited to be helping support the development of cutting-edge technologies in the domestic alternative protein industry, and we will continue to support outstanding founders and build an empowering environment for entrepreneurs.”
